On October 29, the EFT Solutions (08062.HK) announced that on October 29, 2024, the company entered into a non-legally binding memorandum of understanding with Zand Bank PJSC ("potential partner" or "Zand Bank") regarding potential cooperation on establishing an electronic payment system in the United Arab Emirates.

Zand Bank is a bank that has been fully authorized by the Central Bank of the United Arab Emirates since July 2022. Zand Bank is one of the first fully authorized all-digital banks in the United Arab Emirates. Zand Bank's mission is to assist the United Arab Emirates and global enterprises, institutions, and wealth clients in unlocking new opportunities, promoting sustainable growth, and collectively driving positive impact in the ever-changing digital economy. Choose Zand, break through traditional banking mindset, and create infinite opportunities.